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MarketDeFiCrypto Hack
Sep 2, 2026
< 1min read
byArslan Tabish
forCoinEdition
<img src="https://xpertsstudio.com/wp-content/uploads/2026/09/Cryptos-Safer-Month-Was-a-Lie.jpg" alt="August Losses Hit $136.3M—But One DeFi Event Carries the Warning ” loading=”lazy”>
PeckShield reports August saw 50 major crypto hacks (up 66.7% from July’s 30) while estimated losses fell 49.5% to $136.3M from $270M, signaling more incidents but lower aggregate damage. One DeFi event — Tectonic’s roughly $75M borrowing exploit — accounted for over half the losses and Cronos reversed $68.7M, leaving about $6M unrecovered, underscoring ongoing DeFi security and rollback risks to adoption.
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- Crypto hacks rose 67% in August, while estimated losses fell sharply to $136.3 million.
- Tectonic’s $75 million borrowing event drove more than half of August’s reported losses.
- Cronos reversed $68.7 million, leaving roughly $6 million beyond the rollback’s reach.
Crypto hacks caused estimated losses of $136.3 million across 50 major incidents in August, PeckShield reported. Losses fell 49.5% from July’s $270 million. Yet Tectonic accounted for about $74 million, showing how concentrated the month’s reported damage remained.
The number of major crypto hacks rose 66.7% from 30 in July to 50 in August. Meanwhile, estimated losses fell 49.5% to $136.3 million. The figures show more incidents but lower reported losses, rather than clear evidence of broader security improvement.
Source: cryptorank.io